GBPUSD is currently testing the bearish moving averages and looks to be forming a bearish ringed high pattern. If the market finishes like this tonight, look for further downside to continue.
GBP continues to have Brexit woes despite PM Mays small win with a confidence vote by her own party.
The GBPUSD caught a bid over the last couple of days as PM May won a no-confidence vote within her own constituency and was on her way to meet with EU leaders to re-negotiate the current Brexit deal.
However, the EU had other ideas and later came out after meeting with PM May saying that she offered nothing new and that they will not re-negotiate the current ...
Similarly to the AUDCAD set up, AUDCHF has changed cycle on the Daily chart. The moving averages have crossed bearish and the market looks set to re-test the averages and key 61.8 fib retracement.
If we see bearish price action here we can look for further short trades in line with trend.
The NIKKEI is seeing significant downside largely due to the current strength of the JPY. With the outflow from the stock indicies to the safe havens, we should see further downside to the key support of 20240.00.
Look for continuation trades on the lower timeframes.
In this video update, we talk about the EURUSD breaking out of a longer-term wedge pattern.
This could be the early indication that the USD strength could move into the market. Typically, through December the EURO has it's best month however with the current political problems with Brexit, we could see the seasonal patterns lost this year.
In this video update, we look at how the USD has performed this week and what could happen leading into next week.
USD is currently still sitting in the wedge pattern and looks likely to break higher despite the current situation in the Bond market.
If we do see a clear close above the highs expect the market to continue higher.
EURUSD has been holding nicely above the key 1.1300 and with the potential for further USD weakness combined with strong Euro seasonal patterns, a move into the key resistance of 1.1780 could be likely.
Looking at the 4hr timeframe on the right-hand side we have seen a close above the previous significant highs and price is currently testing the moving averages. ...
FTSE looks set for further downside technically despite the current bid we are seeing due to PM May currently being supported by MP's. However, the actual vote does not take place
until this evening and could be a very different story by 5pm GMT. If we see bearish price action at the resistance we could look for further downside to come in this market.
Looking at the EURUSD this week we can see the market is holding at the key support area of 1.1300. With the potential for USD downside, we could see this market head back towards the resistance of 1.1750. If we see the market form bullish price action here we can look for the long trade. If you are slightly more adhere to risk, look for the neckline break on the ...
With the USD expected to fall we look to the USD crosses for short opportunities. We have already had one great trade on USDSGD last month and it has lined up again for another short opportunity.
The reason we expect USD to fall is due to the current downside of the US Government Bonds. The prices of the Bonds are falling and this can show a lack of investment in ...
AUDCAD has been on our radar for a few reasons. AUD GDP Report was poor and put doubt in the mind of investors whether the RBA could hike rates at all.
We are also seeing CAD gain strength off the back of the current decision for Opec to cut oil production to help struggling oil prices.
The daily timeframe is potentially forming a head and shoulders pattern with ...
NZDJPY has been a good market to trade for us this year and we are seeing a solid uptrend forming with the market forming higher highs and higher lows.
The market has formed a bullish engulfing candle off the 20ema giving us a strong indication that the market could move higher from here.
For the same reasons to short the GBPNZD market, we have here for GBPAUD.
The market has been trading between the key resistance of 1.7750 and key support of 1.7280.
If we see bearish price action here at the moving averages look for short opportunities into the key support level.
Yesterday PM May deferred the vote on Brexit in Parliament that was meant to take place today so she can discuss the current draft agreement with the EU again. She was highly unlikely to win the vote regardless and the markets took this news negatively. Looking at the GBP pairs we have an opportunity to continue to trade this currency lower and GBPNZD looks good ...
In this video update, we take a look at GBPUSD. The UK Parliment is voting on the current Brexit deal proposed by PM May and it is likely that she will lose the vote. If this happens then the likelihood of a no deal increases and with that so does the ongoing uncertainty.
In this video update, we take a look at the DXY and plan for the week ahead. We like to analyse this on a Monday to help gauge the strength or weakness of the greenback and where we can best position ourselves around it.
President Trump is questioning himself as to why the stock markets are falling and is it his fault. Trump wants a weaker dollar and higher stock ...
In this video update, we take a look at the DXY. We expect downside here however if we do see a shock in the numbers the $97.00 resistance that the market has struggled to get above of recent could be broken.
The numbers are forecast to be slightly softer, as well as the US Bond market selling off, the USD could be in for a decline.